* Singapore down led by financials, telecom
* Vietnam set for sixth straight week of gains
* Singapore July manufacturing data due later in the day
By Mensholong Lepcha
Aug 24 (Reuters) - Southeast Asian stock markets fell on
Friday, tracking global peers, as a festering trade dispute
between the U.S. and China escalated after the two countries
imposed tariffs on $16 billion worth of each other's goods.
Two days of talks between American and Chinese officials in
Washington ended inconclusively on Thursday with no major
breakthrough.
Investors are also keeping an eye on the meeting of U.S.
central bankers in Jackson Hole, Wyoming, where Federal Reserve
Chair Jerome Powell will speak later in the day. His speech will
be watched for clues on monetary policy after minutes from the
most recent meeting indicated that the Fed would raise interest
rates soon.
Asian shares ex-Japan were trading 0.4
percent lower on Friday.
Singapore shares fell as much as 1 percent, dragged
down by financials and telecommunications. Lender DBS Group
Holdings fell as much as 1.4 percent, while Singapore
Telecommunications shed 2.4 percent.
Data on the city-state's July manufacturing output is due
later in the day. A Reuters poll saw output falling 1.3 percent
from the last month.
Heavyweights SM Prime Holdings and Bank of the
Philippine Islands fell over 2 percent each, dragging
down the Philippine index.
Markets in Malaysia and Indonesia were down
over half-a-percent each.
Public Bank and Hong Leong Financial Group
weighed heavily on the Malaysian index, falling as
much as 2.5 pct each. Star Pacific Tbk PT was the
biggest drag on the Indonesian index, diving over 32 percent.
Vietnam shares were down 0.2 percent. The index is,
however, set for a sixth straight week of gains.
Thai shares were marginally lower.
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SOUTHEAST ASIAN STOCK MARKETS
Change on the day
Market Current Previous Pct Move
close
Singapore 3229.77 3249.89 -0.62
Bangkok 1698.54 1704.8 -0.37
Manila 7750.35 7804.03 -0.69
Jakarta 5961.06 5982.985 -0.37
Kuala Lumpur 1800.93 1810.87 -0.55
Ho Chi Minh 987.13 987.36 -0.02
Change on year
Market Current End 2017 Pct Move
Singapore 3229.77 3402.92 -5.09
Bangkok 1698.54 1753.71 -3.15
Manila 7750.35 8558.42 -9.44
Jakarta 5961.06 6355.654 -6.21
Kuala Lumpur 1800.93 1796.81 0.23
Ho Chi Minh 987.13 984.24 0.29
(Reporting by Mensholong Lepcha; Editing by Sunil Nair)